Debt payment looms is 5% - Bloomberg

“The investment firm and three other bondholders this week offered the eastern European nation a small amount of debt relief, the first time they’ve entertained the possibility of a writedown on their principal holdings. The size of the so-called haircut they proposed is 5 percent, a person familiar with the negotiations said on Thursday,” reported Bloomberg. For the last month Ukraine asked the creditors about 40% debt payment looms. “The restructuring deal will probably end with a principal cut of about 35 percent and a 4 percent reduction in interest payments,” writes Bloomberg with reference to the experts. This came to light just two days after Pioneer Investments, which oversees $244 billion in assets, now holds about $75 million of Ukraine debt after buying more bonds last week, as reported by WSJ.